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The seven year sterling bond will pay interest twice a year at an annual rate of 5.5%, with the original face value of the bond returned to the investor when the bond matures in 2019.

The property investment company is asking for a minimum investment of £2,000, but will accept investments in multiples of £100 thereafter. The bonds will be eligible for tax-free ISAs and Sipps.

The bond is open as of today, 22 August, and is in on sale through stockbrokers and wealth managers. The deadline for retail investors is 5pm on 4 September, but the bond could be closed earlier than scheduled depending on how much interest it attracts.

It is understood that CLS is aiming to raise around £50 million from the launch of its retail bond to put towards 'general corporate purposes'.

Once bought investors will be able to trade the bonds on the London Stock Exchange’s Order Book for Retail Bonds (ORB).

Henrietta Podd, of Canaccord Genuity, which is marketing the bond, said: 'We like the bond because CLS has got a very simple business model, security of income and a conservative and prudent funding strategy'.

CLS, which has properties in London France, Germany and Sweden worth over £900 million, secures the majority of its rental income – some 69% – from governments or major corporations including the Home Office, Secretary of State for Work and Pensions and the BAE Systems.

The group reported a pre-tax profit of £27.1 million for the first half of this year, having made £37.7 million in 2011.

Retail bonds have become an increasingly popular way for companies to raise money and are indeed proving equally as popular among investors.

Just last month interdealer broker ICAP was forced to close the offer period on its six year 5.5% bond nearly a week early after raising £125 million – some £75 million more than its initial £50 million target. Primary Health Properties similarly closed the offer period for its 5.375% bond a week early due to strong demand, while in September last year National Grid raised over £260 million in just one month from its bond launch.

Here, CLS compares its new bond to those currently on offer in the secondary market.

So - how long will it be before the FSA (maybe under a new name - with costly new logo and letterheads, golden hello and pensions enhanced with leaving bonus) declare investment in property to be high risk, to the point of being declared "TOXIC".